Thinking About Chapter 13 . . . See What Saunders & Associates, APC Can Do For You

Chapter 13 bankruptcy

Chapter 13 Bankruptcy
Chapter 13 Bankruptcy is a type of Bankruptcy that provides relief for individuals who make too much money to qualify for Chapter 7 Bankruptcy. Known asReorganization Bankruptcy,” it is a powerful tool that enables individuals to protect their property and reorganize their debt, paying as much as their budget allows instead of trying to keep up with each creditor‘s minimum monthly payments.

Once a Chapter 13 Bankruptcy petition is filed, the U.S. Bankruptcy Court will issue anAutomatic Stay,” an injunction that prevents creditors from taking certain actions to collect debts. As long as the Automatic Stay is in effect, creditors generally cannot initiate or continue lawsuits, make threatening telephone calls, garnish wages, or try to sell your home by incorporating your pastdue mortgage payments into the debt to be repaid. You will also be allowed to restructure secured debts so that you can repay them over the course of your plan.

Trusts, Corporations, and Partnerships cannot file Chapter 13; only an individual can file a Chapter 7 Bankruptcy. Saunders & Associates has been practicing law for 32 years, vigorously representing you.

Requirements For Filing Chapter 13 Bankruptcy
At a minimum, you must provide our office with the following information:

A detailed list of all assets, debts and monthly living expenses
Copy of driver license and Social security card
Credit reports (Experian, TransUnion, Equifax) within 30-days of filing
Most recent mortgage statement (if homeowner
2 months of all bank statement (all pages)
Signed and dated Federal tax returns (most recent year)
6 months of the most recent paystubs
Certification that you completed credit counseling
Close up unhappy businessman talking on smartphone, hearing bad news, unexpected debt or bankruptcy, financial problems, dismissal notification, frustrated upset young man making phone call
Happy young couple

Chapter 13 Bankruptcy Timeline
Once you meet the trustee’s requirements, the court will confirm your Plan. After you make all Plan payments and meet other requirements in the Bankruptcy Code, you will be granted a discharge, wiping out any remaining balances of debt that were not required to be paid.

Our clients are our focus and we are committed to leveraging our combined knowledge and experience to exceed their expectations. Let us help you every step of the way.

If you are wondering what makes Saunders & Associates different, the answer is you. Saunders & Associates is an excellent partner and guiding light for your business and legal needs.

Everyone Should Have A Plan . . . Why Not You!